| (a) A license issued under this subchapter may be considered
for renewal by filing a renewal application with the commission. In order
to be considered, a sales agent must file a renewal application and pay the
renewal fee before the sales agent's license expires.
(b) The renewal application shall be on forms provided by the
commission upon request. All provisions in this subchapter governing the applicant's
completion and submission of a license application and conditions of the license
granted shall apply equally to the application for and renewal of a license.
Factors considered by the director and grounds for denying the renewal of
a license may include those listed in §401.153(a) or (b) of this title
(relating to Qualifications for License) and those listed under §401.158(b)
of this title (relating to Suspension or Revocation of License).
(c) Every application for renewal of a license submitted under
this subchapter shall be accompanied by a renewal fee in an amount to be established
by the director. If the director denies an application for renewal based on
a factor listed in §401.153(a) of this title, the director shall refund
one half of the renewal application fee to the applicant. If the director
denies an application based on another factor, the director may not refund
any part of the renewal application fee.
(d) Every application for renewal of a license submitted under
this subchapter shall be accompanied by security in an amount and in such
form as the director determines to be in the best interests of the lottery.
If the director determines that such security is best provided through mandatory
contributions by licensees to a pooled fund established and maintained to
reimburse the state for losses resulting from the operation of sales agents,
the amount of such security shall be determined based on the director's estimate
of expected required reimbursement to the state from such losses incurred
during the term of the renewal.
(e) A renewal license issued under this section shall be valid
for a term set by the commission, unless it expires sooner.
|
| Source Note: The provisions of this §401.156 adopted to be effective March 30, 1992, 17 TexReg 1914; transferred effective December 27, 1993, as published in the Texas Register January 4, 1994, 19 TexReg 78; amended to be effective March 14, 1996, 21 TexReg 1756; amended to be effective July 1, 2002, 27 TexReg 5759 |
